Full Replacement value insurance

[ViperDoc]

Hi,

I thought I had read on the forums about someone having full replacement value insurance for their Roadster. They were discussing Hagerty. So I called them today, and they do not offer insurance on electric cars right now.

Given the true value of our Roadsters is well above the depreciated value that most auto insurers cover, I was wondering if anyone has gotten true replacement cost/true value insurance on their cars from a different company?

I obviously hope to never need it, but...

Thanks!

David

 

[jmaddr]

I have zero affiliation or experience with them, but have you tried Grundy's? It's a competitor to Haggerty's and offers similar types of coverage.

 

[ML Auto]

Progressive uses your stated value.

 

[hcsharp]

I've been worried about insurance value as well. I got a quote from Hagerty and was about to buy a policy from them. They never said anything about not insuring EVs but maybe I talked with somebody who doesn't know. If you learn more, let us know.

 

[brico84]

Progressive uses your stated value.

I have progressive and mine is not stated value

 

[ML Auto]

I have progressive and mine is not stated value

Strange. I was required to have a stated value on my Lotus as well. Something about not having enough data to determine a value. And we are both in Florida.

 

[unixphone]

I have costco insurance. It took them a week to get it approve because original purchase price is over 100k

 

[Roadster]

The Hagerty insurance quote wizard here listed the Roadster as one of the vehicles they cover so I decided to see if it would generate a quote for me. I entered $175,000 US as the "Guaranteed Value Amount" for an unmodified 2011 2.5 RS and it seemed to go through just fine and I received a quote. Granted, it seems they limit the annual max mileage to 3,600 since the expectation is you'll only be driving it to shows and for occasional pleasure.

 

[CAR3NUT]

I have had Hagerty on my Roadster since 2019 and current insured replacement value is $107,000.00

 

[CAR3NUT]

Received email from Hagerty last week stating my car is under insured and they recommended I increase it by $8,000.00 only added 129 to my yearly cost. Was a no brainier for me.

 

[ViperDoc]

I called Hagerty back after confirming that others had quotes. The gentleman I spoke with this time said he saw in the notes where they prior rep told me they didn't cover electrics. He confirmed to me that they DID indeed cover EVs and he would chat with the other guy. However, he said they still wouldn't cover me since I use it as close to daily driver. Even if I only drove it seasonally or kept it under the 7500 mile mileage cap they have for Vermont, he said that if I drove it back and forth to work, they would not cover. I will look at some of the other options folks have suggested above.

 

[ViperDoc]

Just went to Grundy website. Similar story to Hagerty. No daily driving...sigh. I will keep looking!